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This excerpt taken from the MRVL 10-Q filed Jun 11, 2009. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, including stock-based compensation, fees for professional services and allocated occupancy costs for these operations. The increase in general and administrative expense for the three months ended May 2, 2009 compared to the three months ended May 3, 2008 of $88.5 million was primarily the result of a $72.0 million legal settlement in connection with the class action securities litigation reflected in the three months ended May 2, 2009, the $24.5 million of insurance recoveries for shareholder derivative, class action and related lawsuits received in the first quarter ended May 3, 2009. This was partially offset by a $10.0 million settlement with the Securities and Exchange Commission investigation regarding our historical stock option granting practices and related accounting matters also recorded for the first quarter ended May 3, 2008. In addition, legal fees increased by approximately $8.0 million due to increased litigation matters, including one of our cases ramping up for trial. Partially offsetting the increase in general and administrative expense was a decrease of $2.8 million in stock-based compensation due to older options with relatively higher valuations becoming fully vested along with lower expense due to differences in the vesting schedule of replacement grants versus tendered options as a result of our option exchange program during the fourth quarter ended January 31, 2009 as described above. Additionally, salary and related costs decreased $1.7 million due to the effects of cost reduction efforts. We currently expect that general and administrative expense during the second quarter ending August 1, 2009 will moderately decline from the level of expense reported during the first quarter ended May 2, 2009. These excerpts taken from the MRVL 10-K filed Apr 1, 2009. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, fees for professional services and allocated occupancy costs for these operations. General and administrative expense decreased $33.9 million in fiscal 2009 compared to fiscal 2008 primarily due to lower legal and professional fees of $34.8 million. Legal and professional fees decreased due to a reduction in legal fees associated with our internal review of historical stock option granting practices and related accounting matters as well as $24.5 million of insurance recoveries for shareholder derivative, class
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Table of Contentsaction and related lawsuits received in the first quarter of fiscal 2009. Partially offsetting the decrease in legal and professional fees was a $10.0 million settlement with the SEC investigation regarding our historic stock option granting practices and related accounting matters in the first quarter of fiscal 2009. Additionally, stock-based compensation decreased $10.7 million primarily due to the cancellation of grants to a former and current executive in the second quarter of fiscal 2008 that was not accompanied by a concurrent replacement grant or other valuable consideration. Partially offsetting the decreases in general and administrative expense was an increase in salary and related costs of $5.6 million due to the net hiring of additional administrative personnel and a $5.1 million gain on the sale of an asset under construction recorded during the third quarter of fiscal 2008. We expect that general and administrative costs in fiscal 2010 will moderately decline from the level of expense reported in fiscal 2009 due to continued focus on cost controls. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, fees for professional services and allocated occupancy costs for these operations. General and administrative expense decreased $33.9 million in fiscal 2009 compared to fiscal 2008 primarily due to lower legal and professional fees of $34.8 million. Legal and professional fees decreased due to a reduction in legal fees associated with our internal review of historical stock option granting practices and related accounting matters as well as $24.5 million of insurance recoveries for shareholder derivative, class
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Table of Contentsaction and related lawsuits received in the first quarter of fiscal 2009. Partially offsetting the decrease in legal and professional fees was a $10.0 million settlement with the SEC investigation regarding our historic stock option granting practices and related accounting matters in the first quarter of fiscal 2009. Additionally, stock-based compensation decreased $10.7 million primarily due to the cancellation of grants to a former and current executive in the second quarter of fiscal 2008 that was not accompanied by a concurrent replacement grant or other valuable consideration. Partially offsetting the decreases in general and administrative expense was an increase in salary and related costs of $5.6 million due to the net hiring of additional administrative personnel and a $5.1 million gain on the sale of an asset under construction recorded during the third quarter of fiscal 2008. We expect that general and administrative costs in fiscal 2010 will moderately decline from the level of expense reported in fiscal 2009 due to continued focus on cost controls. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, stock-based compensation expenses, fees for professional services and allocated occupancy costs for these operations. The increase in general and administrative expense in absolute dollars of $24.5 million in fiscal 2008 compared to fiscal 2007 was primarily due to higher attorney and professional fees of $11.1 million associated with the internal review by our Board of Directors Special Committee Regarding Derivative Litigation related to our historical stock option granting practices and related accounting matters. General and administrative expense in fiscal 2008 also included $16.0 million accrued in the fourth quarter of fiscal 2008 related to anticipated payments pursuant to a tentative settlement in connection with derivative lawsuits related to historical stock option practices. In addition, general and administrative expense increased due to the net hiring of additional administrative personnel, which resulted in an increase in salary and related costs of $7.5 million. Partially offsetting the increase in general and administrative expense was a decrease in stock-based compensation expenses of $4.7 million and a $5.1 million gain from the sale of an asset under construction.
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Table of ContentsGeneral and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, stock-based compensation expenses, fees for professional services and allocated occupancy costs for these operations. The increase in general and administrative expense in absolute dollars of $24.5 million in fiscal 2008 compared to fiscal 2007 was primarily due to higher attorney and professional fees of $11.1 million associated with the internal review by our Board of Directors Special Committee Regarding Derivative Litigation related to our historical stock option granting practices and related accounting matters. General and administrative expense in fiscal 2008 also included $16.0 million accrued in the fourth quarter of fiscal 2008 related to anticipated payments pursuant to a tentative settlement in connection with derivative lawsuits related to historical stock option practices. In addition, general and administrative expense increased due to the net hiring of additional administrative personnel, which resulted in an increase in salary and related costs of $7.5 million. Partially offsetting the increase in general and administrative expense was a decrease in stock-based compensation expenses of $4.7 million and a $5.1 million gain from the sale of an asset under construction.
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Table of ContentsGeneral and Administrative STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">
General and administrative expense consists primarily of compensation and associated costs
56 Table of ContentsThis excerpt taken from the MRVL 10-Q filed Jun 6, 2008. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, including stock-based compensation expenses, fees for professional services and allocated occupancy costs for these operations. The decrease in absolute dollars in general and administrative expense in the first quarter of fiscal 2009 compared to the first quarter of fiscal 2008 was the result of $24.5 million of insurance recoveries for shareholder derivative, class action and related lawsuits received in the first quarter of fiscal 2009 partially offset by a $10.0 million settlement with the Securities and Exchange Commission (SEC) investigation regarding our historical stock option practices and related accounting matters. Partially offsetting the decrease in general and administrative expense in the first quarter of fiscal 2009 compared to the first quarter of fiscal 2008 was a $2.9 million increase salary and related costs due to the net hiring of additional administrative personnel.
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These excerpts taken from the MRVL 10-K filed Mar 28, 2008. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, including stock-based compensation expenses, fees for professional services and allocated occupancy costs for these operations. The increase in general and administrative expense in absolute dollars in fiscal 2007 compared to fiscal 2006 was primarily due to higher attorney and professional fees of $34.0 million associated with our internal review by a special committee of the Board of Directors related to our historical stock option practices and related accounting matters. In addition, general and administrative expense increased due to the net hiring of additional administrative personnel, which resulted in an increase in salary and related costs of $8.6 million. General and administrative expense also increased by $3.8 million due to the use of various outside services. General and Administrative
General This excerpt taken from the MRVL 10-Q filed Jul 9, 2007. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, including stock-based compensation expenses, fees for professional services, and allocated occupancy costs for these operations. The increase in absolute dollars in general and administrative expense in the first quarter of fiscal 2008 compared to the first quarter of fiscal 2007 was primarily due to an increase in legal fees of $8.1 million due largely to costs associated with our internal review by a special committee of the Board of Directors related to our historical stock option practices and related accounting matters. In addition, general and administrative expense increased due to the net hiring of additional administrative personnel, which resulted in an increase in salary and related costs of $2.5 million. Partially offsetting the decrease in general and administrative expense in the first quarter of fiscal 2008 compared to the first quarter of fiscal 2007 was a $3.1 million decrease in stock compensation costs. This excerpt taken from the MRVL 10-K filed Jul 2, 2007. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, including stock-based compensation expenses, fees for professional services and allocated occupancy costs for these operations. The increase in general and administrative expense in absolute dollars in fiscal 2006 compared to fiscal 2005 was primarily due to the net hiring of additional administrative personnel resulted in an increase in salary and related costs of $6.7 million and increased stock-based compensation expense of $5.2 million. Offsetting the increase in general and administrative expenses was a decrease in legal fees and professional fees of $3.6 million. The decrease in legal and professional fees was due to the timing and volume of legal matters during the year and the increased hiring of legal and finance personnel resulting in lower outside legal and professional fees. This excerpt taken from the MRVL 10-Q filed Jul 2, 2007. General and Administrative
53 General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, including stock-based compensation expenses, fees for professional services and allocated occupancy costs for these operations. The increase in absolute dollars in general and administrative expense in the first quarter of fiscal 2007 compared to the first quarter of fiscal 2006 was primarily due to stock-based compensation expenses of $7.7 million as a result of our adoption of SFAS 123R. In addition, general and administrative expense increased due to the net hiring of additional administrative personnel, which resulted in an increase in salary and related costs of $1.4 million. Our expenses also increased due to higher professional fees of $1.4 million due to attorney fees associated with our on-going legal proceedings and $1.0 million due to higher professional fees as a result of our expanding operations and costs to comply with the regulatory requirements of the Sarbanes-Oxley Act of 2002. This excerpt taken from the MRVL 10-Q filed Jun 8, 2006. General and Administrative
General and administrative expense consists primarily of compensation and associated costs relating to general and administrative personnel, including stock-based compensation expenses, fees for professional services and allocated occupancy costs for these operations. The increase in absolute dollars in general and administrative expense in the first quarter of fiscal 2007 compared to the first quarter of fiscal 2006 was primarily due to stock-based compensation expenses of $6.0 million as a result of our adoption of SFAS 123R. In addition, general and administrative expense increased due to the net hiring of additional administrative personnel, which resulted in an increase in salary and related costs of $1.4 million. Our expenses also increased due to higher professional fees of $1.4 million due to attorney fees associated with our on-going legal proceedings and $1.0 million due to higher professional fees as a result of our expanding operations and costs to comply with the regulatory requirements of the Sarbanes-Oxley Act of 2002. We expect that general and administrative expenses will increase from the levels in fiscal 2007 compared to fiscal 2006 to support our expanding operations. | EXCERPTS ON THIS PAGE:
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